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Mortgage Market Update
My Mortgage Company
Brandon List
Friday, November 6, 2026
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Does refinancing work for you right now? |
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Rates move, and when they do, refinancing questions always come up. But a lower rate alone doesn't mean it's time to refinance.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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Source: Optimal Blue daily mortgage indices via FRED
Rates shown are national mortgage index rates and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Refinancing Strategy
When does refinancing actually make sense?
Refinancing isn't always the right move, even when rates shift. The real question isn't whether rates have dropped—it's whether the math works for your situation. If you're planning to stay in your home for several more years, refinancing might lower your monthly payment or let you pay off your loan faster. But if you're thinking of moving soon, the closing costs and time involved might not be worth it. The best way to know is to run the numbers based on your timeline and goals. I can help you figure out whether it pencils out for you. Let's talk through whether refinancing makes sense in your case.
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Tip of the Week
Closing costs typically run 2-5% of the loan amount. Ask your lender for a Loan Estimate so there are no surprises.
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Tips for Homeowners
Protecting Yourself from Mortgage Scams
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1.
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Wire fraud is one of the fastest-growing real estate scams. Never wire closing funds based solely on email instructions — always verify account numbers by calling your title company at a number you look up yourself.
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2.
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Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.
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3.
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Be wary of unsolicited offers to refinance or cash out equity at terms that sound unusually favorable. If someone contacts you out of the blue, verify their NMLS license number at nmlsconsumeraccess.org.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Brandon List
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